Middle-east Arab News Opinion | Asharq Al-awsat

‘Cityscape Turkey’ Focuses on Stimulating Gulf Investment | ASHARQ AL-AWSAT English Archive 2005 -2017
Select Page
Media ID: 55368537

CS Turkey Logo

Ankara – Cityscape Turkey Exhibition’s activities will be launched from March 23 till 25 at the Istanbul Congress Center amidst expectations of the participation of more than 65 high profile exhibitors and the attendance of more than 7,500 participants on regional and international levels.

The exhibition is considered one of the most important investment and real estate development activities in Turkey and falls within Cityscape world-renowned group.

It is the place where real estate developers and investors from private and institutional sector, architects, consultants and other real estate sector service providers meet to communicate and conclude business deals.

Gulf investment into Turkey remains steadfast, despite the economic and political uncertainty of 2016, Cityscape group said in a statement issued on Wednesday.

“To amplify and facilitate investment from the GCC into Turkey, the organizers of Cityscape Turkey will create a specialized GCC ‘Hosted Investor Program,’ at the exhibition, for interested investors to benefit from pre-arranged meetings with leading developers and brokers participating at this year’s show,” the statement said.

The Program is designed to help prospective investors with network opportunities, dialogue exchange, and to open the door for investment opportunities.

“Gulf investors understand that when it comes to real estate, it’s all about long-term investment and not something that has immediate short-term results, these investors recognize that the market is cyclical and where there’s potential there are rewards – and Turkey is filled with real estate potential,” said Wouter Molman, Director of Cityscape Group.

“We’re seeing several Gulf investors make inroads into Turkey, into the residential, office and hospitality sector, and despite the concerns, we believe it will do little to deter these investors.”

“Based on our success at last year’s inaugural Cityscape Turkey, we’re confident that the exhibition will raise the confidence of the real estate market in the country,” he added.

The statement noted that as Turkey looks to introduce new reforms and incentives over the next year to boost real estate in the country, foreign investors will be watching the market closely.

One of the incentives introduced by the government earlier this year was its golden visa scheme.

The government announced that it would grant citizenship to foreigners who buy property worth at least USD 1 million and invest a minimum of USD2 million, or deposit at least USD 3 million in a bank account for more than three years.

The Turkish government predicted that the new law would trigger an extra USD 1 billion in revenue from property sales in 2017.